Bloomberg TV to step up 'big push' into Southeast Asia
Bloomberg Television, the 24-hour global network broadcasting division of financial information giant Bloomberg, plans to step up the establishment of new partnerships next year in Southeast Asia.
The company, which has its Asia-Pacific headquarters in Hong Kong, recently launched Bloomberg TV Mongolia, a partnership with that country's Trade and Development Bank.
"We are concentrating next year to develop credible partnerships across Southeast Asia, like we have done in India, Mongolia, Turkey and the Middle East," said Parry Ravindranathan, the head of Bloomberg TV Asia-Pacific.
Ravindranathan said the key markets that the firm would focus on next year included Indonesia, Malaysia, Thailand and the Philippines.
By forming strategic broadcast ventures with large corporate partners in the region, Bloomberg TV expects to accelerate the development of its infrastructure, build up its production staff, create more video content from Asia, tap into new advertising markets and widen distribution of its branded programming.
Bloomberg TV India, a joint venture with Mumbai-based UTV Multimedia, is available in more than 30 million households in the country.
"Across the rest of Asia, Bloomberg TV is available in more than 15 million households. That is three million more than last year," Ravindranathan said.
In line with its "big push" into Southeast Asia, the company has built a broadcast studio in Singapore. "This new facility will be controlled out of our Hong Kong and London studios," he said.
The company is also keen to capture a larger segment of the advertising market in Asia. It already delivers programme sponsorships, customised segments and spot buys, as well as support for advertisers in producing commercials and vignettes. "We add a tremendous amount of value and content to our Asia feed," Ravindranathan said.
The advertising opportunity for pay-television broadcasters is huge in the world's largest television market. Market research firm Informa has estimated that Asia-Pacific pay-television advertising revenues reached US$33.1 billion last year.